An anonymous director reports

AGF ANNOUNCES RISK RATING CHANGES

AGF Management Ltd.'s AGF Investments Inc. has made risk-rating changes for certain funds, effective today (see an attached table).

The changes are based on the risk classification methodology mandated by the Canadian Securities Administrators to determine the risk level of mutual funds. No material changes have been made to the investment objectives, strategies or management of these funds.

About AGF Management Ltd.

Founded in 1957, AGF Management is an independent and globally diverse asset management firm delivering excellence in investing in the public and private markets through its three distinct business lines: AGF Investments, AGF Private Capital and AGF Private Wealth.

AGF brings a disciplined approach focused on providing an exceptional client experience and incorporating sound responsible and sustainable practices. The firm's investment solutions, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisers and their clients to high-net-worth and institutional investors, including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

Headquartered in Toronto, Canada, AGF has investment operations and client-servicing teams on the ground in North America and Europe. With over $41-billion in total assets under management and fee-earning assets, AGF serves more than 800,000 investors.